Coal India misses production target by 5% during Apr-Nov

Amid concerns from thermal power plants over inadequate supply of fuel, Coal India Ltd (CIL) on Friday reported that it has produced 329.30 million tonnes during the April to November period, missing its target by five per cent.

However, the miner achieved an 8.1 per cent growth in off-take to 367.98 mt during the first eight months of the current fiscal as compared to 340.32 mt in the same period last year.

Its off-take for November only stood at 50.67 mt, exceeding the target of 50.48 mt for the last month.

CIL, which has a target to produce 347.69 mt during the period, clocked a 1.8 per cent growth in production from 323.57 mt produced in the same period last year, its provisional data showed.

According to data, the miner produced 51.29 mt of coal in November only, missing the production target of 54.91 mt for the month by seven per cent.

Coal India Chairman Gopal Singh had said the company is "pushing hard" to meet the 600 mt production target for fiscal 2017-18 and the one billion tonne production mark for 2019-20.

During the April-November period, the miner missed the off-take target of 378.27 mt by three per cent.

The miner envisaged production of 908.10 million tonnes in 2019-20 with a CAGR (Compound Annual Growth Rate) of 12.98 per cent, with respect to 2014-15.

--IANS

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